An investigation on behalf of investors of Aspen Technology, Inc. (NASDAQ:AZPN) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 01/14/2022 -- An investigation on behalf of investors, who currently hold shares of Aspen Technology, Inc. (NASDAQ: AZPN), was announced concerning whether the takeover of Aspen Technology, Inc. is unfair to NASDAQ: AZPN stockholders.
Investors who purchased shares of Aspen Technology, Inc. (NASDAQ: AZPN) and currently hold any of those NASDAQ: AZPN shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Aspen Technology, Inc. breached their fiduciary duties owed to NASDAQ: AZPN investors in connection with the proposed acquisition.
Bedford, MA based Aspen Technology, Inc., together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East.
On October 11, 2021, Emerson (NYSE: EMR) and Aspen Technology, Inc. (NASDAQ: AZPN) announced that the companies have entered into an agreement to contribute Emerson's industrial software businesses – OSI Inc. and the Geological Simulation Software business – to Aspen Technology, Inc. to create a diversified, high-performance industrial software leader with greater scale, capabilities and technologies ("new AspenTech"). Under the terms of the agreement, Aspen Technology, Inc. (NASDAQ: AZPN) shareholders will receive approximately $87 per share in cash and 0.42 shares of common stock of the new AspenTech, a newly formed company, for each share of Aspen Technology, Inc. (NASDAQ: AZPN) common stock they own, which implies total consideration of approximately $160 per Aspen Technology, Inc. (NASDAQ: AZPN) share, and a total transaction equity value of approximately $11 billion before synergies.
However, given that at least one analyst has set the high target price for NASDAQ: AZPN shares at $192.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: AZPN stockholders. More specifically, the investigation concerns whether the Aspen Technology Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Aspen Technology, Inc. reported that its Total Revenue rose from $598.71 million for the 12 months period that ended on June 30, 2020, to $709.37 million for the 12 months period that ended on June 30, 2021, and that its Net Income increased over those time periods from $229.67 million to $319.8 million.
Those who are current investors in Aspen Technology, Inc. (NASDAQ: AZPN) shares have certain options and should contact the Shareholders Foundation.
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